Halo Labs Reports Q2 2019 Financial Results - Seite 2

• Revenues for the six-month period ended June 30, 2019 were $18,270,515 (six-month period ended June 30, 2018: $4,262,444), a 329% increase year over year, explained by contributions from Coastal Harvest in California and HLO in Nevada, as well as a 11.8% increase in revenues at ANM in Oregon. Net revenues represent ~ 10% increase quarter on quarter. Each month in Q2 Halo delivered improving monthly growth.
• The increase in revenues is a result of by a 262.1% increase in sales of grams of distillate, shatter, and live resin, and a 28.9% increase in overall average achieved price in comparison with the six-month period ended June 30, 2018. The price increase is predominantly due to higher prices realized in California and Nevada versus only Oregon last year. Excluding the contributions of the operations in HLO (Nevada) and Coastal Harvest (California), the increase in sales of grams of distillate and shatter was 30.1% with a 4.5% overall decline in the average achieved price across all products sold in Oregon;
• In the second quarter, sales of distillate, shatter, and live resin in the facility in Oregon increased by 31.9% to 326,428 grams, which more than offset the 6.3% average price decline to $8.08 in the same period. In the six-month period ended June 30, 2019, the facility in Oregon sold 622,565 grams of distillate and shatter, an increase of 30.1% in comparison with the six-month period ended June 30, 2018. The average achieved price of distillate and shatter sold was $8.18. Distillate sold at $14.46 per gram, a 1.9% increase in comparison with the six-month period ended June 30, 2018. Shatter sold at $4.74 per gram, a 25.3% decline in comparison with the six-month period ended June 30, 2018.
• The facility in Coastal Harvest sold 742,906 grams of distillate and 320,314 grams of live resin. Distillate sold at $7.08 and live resin sold at $11.29. The facility in Nevada sold 47,476 grams of oil at a price of $28.74;
• In Oregon in the three-month period ended June 30, 2019, grams sold of distillate for cartridges increased by 48.3% to 110,911 grams, and shatter sales increased by 25.6% to 215,517 grams for the quarter. Distillate sold for $14.78 per gram in the second quarter, a 3.1% decline year over year; shatter sold for $4.64 per gram, a 17.7% decline year over year;
• In Oregon during the same time-period, trim converted increased by 78.0% to 5,760,596 grams with a conversion yield of 7.6%. The average trim price, the Company’s most important raw material, declined by 21.2% to $66.15 per pound;
• In California in the three-month period ended June 30, 2019, the Company sold 446,623 grams of distillate at an average price of $6.62 per gram and 51,605 grams of live resin at an average price of $11.48 per gram; and
• The facility in Oregon produced 296,137 grams of oil. After only commencing in November 2018, the facility in California produced 296,283 grams of distillate and 268,709 grams of live resin this quarter.

Issuance of Additional Common Shares